Steve Keen: "Loans create deposits!" aka No One Understands Banking

Published time: 22 Mar, 2014 07:49

Reuters / Luke MacGregor / Reuters

Erin talks net neutrality. Netflix CEO Reed Hastings called for rules that ensure that big broadband providers like Comcast can't charge companies like Netflix a fee to connect directly to their networks. What do you think? Erin gives you the details.

For our interview today, we invite economist Steve Keen to talk about some bold assertions made by the Bank of England about how money is created. Turns out that your economics textbook on banking was wrong: there is no money multiplier in this story.

To round out the week, check out Edward Harrison and Erin's discussion of the viewer feedback, or "Accrued Interest," the Boom Bust team has received over the week.